Chancellor Visits Cornish Tin Mine Set for Government-Backed Reopening
The Chancellor says the £28.6 million National Wealth Fund investment to Cornish Metals, which is working to reopen the South Crofty tin mine, could create up to 1,300 jobs.
The Chancellor is also visiting other Cornish businesses and is highlighting plans to cut red tape that aim to boost the region's pubs, clubs, restaurants and cafés by allowing more al fresco dining and longer opening hours.
'Despite having so much potential to grow, Cornwall has been neglected by successive governments, and its families and businesses have suffered as a result,' the Chancellor says.
'Like in every part of the UK, I am determined to unlock growth that creates jobs and puts more money in Cornish people's pockets.
'Our investment to revive Cornwall's proud tin mining industry and the thousands of jobs it will create for years to come is one way we are renewing the county.'
The reopening of the mine itself is expected to create more than 300 jobs, and the Treasury estimates the mine could create 1,000 more as it fuels supply chains in the UK with demand for metal fabricators and electricians.
It would support the UK's domestic tin supply amid increased demand for use in solar panels, wind turbines, electric vehicles, semiconductors and energy storage.
Don Turvey, chief executive of Cornish Metals, says: 'We are honoured to welcome the Chancellor to South Crofty and proud to showcase the significant progress we're making as we move toward production.
'The UK Government's £28.6 million investment via the National Wealth Fund is a powerful vote of confidence in our project and the future of Cornwall's mining industry.'
The Chancellor has also visited ship repair business A&P Falmouth and Harbour Lights fish and chip shop in Falmouth, and is visiting heat pump manufacturer Kensa in Truro.
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